Small Business Loans in Canada

There are over 1.3 small businesses in Canada, with nearly 35,000 new enterprises launched every year. Keep your business on the cutting edge and stand out from your competition with up to $500,000 in funding from Greenbox Capital® in just 24 hours.
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Fast, Direct Canada Small Business Loans

The outlook for Canadian small businesses is bright. Competition is fierce in many industries, and it’s crucial for small businesses in every niche to differentiate themselves to stay ahead of their competition and continue to grow and succeed.

Sometimes, your business needs an infusion of working capital to improve or expand. Government grants are available, but they are often restricted to specific industries or certain regions of the country. Loans from traditional lenders can also be difficult to obtain—the application process can take months and requires extensive paperwork, all with no guarantee of approval. In the meantime, opportunities to grow your business can quickly melt away while you wait.

Small Business Funding Rates in Canada

Alternative funding rates in Canada depend on the type of small business funding you receive. Most alternative small business funding options in Canada use a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the funding. Your factor rate is determined based on your risk assessment, so the stronger your business’s financial history, the lower your rate should be.

Canada Small Business Funding Solutions

Our friendly, expert Funding Advisors will work with you to determine which funding option will help you achieve your goals without compromising your business’s cash flow.

Merchant Cash Advance

You get working capital when you need it. We’ll receive a percentage of your daily or weekly credit card sales until the advance is repaid.

Invoice Factoring

Sell us your pending invoices in exchange for the net amount in cash. You’ll receive the balance of the invoices’ value when we receive payment (minus our fee).

Collateral Loan

A secured loan that uses commercial real estate to reduce risk. Because the loan is secured, you may be approved for larger loan amounts with lower rates and fees.

Business Line of Credit

Borrow as much or as little as you need without the obligation of a fixed term loan. Draw and repay as you go, and only ever pay interest on the amount you've borrowed.

How To Use Canada Small Business Funding

There are no restrictions on how you can use small business funding in Canada. Alternative small business funding is most ideal for supporting growth initiatives that will increase your business’s revenue, such as:

  • Hiring staff so you can expand services and take on more business
  • Purchasing new equipment or technology
  • Renovating or remodeling your space to offer a more comfortable environment
  • Expanding your business or acquiring another business
  • Building a new website or expanding your existing online presence
  • Purchasing raw materials or inventory in bulk at lower prices
  • Investing in continuing education and training
  • Energizing your marketing and advertising to bring in more business

Sometimes, businesses in Canada may also need a quick infusion of working capital to help meet the unique challenges of their field, such as:

  • High cost of equipment or raw materials
  • Skilled labor shortages and employee turnover
  • Meeting changing client and customer needs
  • Standing out from competition in your niche
  • High cost of repairing appliances or equipment

How Canada Small Business Loans Work

  • 1
    Apply

    Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.

  • 2
    Choose Funding

    A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.

  • 3
    Get Funded

    Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.

  • 4
    Set Repayment

    Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.

Will You Qualify for Canada Small Business Funding?

Your business’s credit score is just one part of the picture. That’s why approval for small business loans from Greenbox Capital is based on the overall health of your business. Here are some factors we consider:

  • Business revenue
  • Cash flow
  • Vendor payment history
  • Years in business
  • Public records

Canada Small Business Loans Q&A

Is alternative small business funding suitable for expanding my small business in Canada?

Yes, an alternative loan is ideal for expanding small businesses in Canada. Contact one of our knowledgeable Funding Advisors to discuss an option that is right for you.

What do I need to do to qualify for a small business loan?

We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.

Business Funding Guides

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